Stolen Credit Cards-Steps To Take UAE Dubai
The plastic in your wallet packs a lot of power; free credit, purchase power and convenience. But if this power tool falls into wrong hands, it can put you through hell.
In a country like UAE where we like to have multiple credit cards (my assumption), the realization of a lost card or getting one or more stolen can come late and by then most damage will have been done.
Your personal information or credit card data could be used fraudulently by unscrupulous people for their economic gain. Even though UAE has moved to credit cards with micro chips, not all potential identity theft threats are mitigated.
So, the question is how you can protect yourself when your credit card information or you physical credit card is stolen?
Check out this infographic ‘What To Do If Your Credit Card Information Is Stolen‘ which will help you to take measures in case of theft or loss of credit card. Via
Even though this infographic is more relevant to US economy, the measures to be taken are relevant to any country and UAE is no exception.
What will you need to go through the whole process?
. Personal and credit card information
Keep your personal and credit card information handy so that you can tender those easily when you solve this problem with the issuer.
. Email Access
It is better to keep a trail of email exchanges between the issuing bank representative and you so that important details are not lost in the process
You will need a telephone so that the communication is speedy and also effective
. Limited Liability
I believe, the main benefit of credit cards with chips is protection and limited liability. When your credit card is stolen, you are not liable for loss if you report the theft before your credit card or credit card information is used.
Steps To Relieve Yourself From Data Breach Stress in UAE:
#1. Report Immediately
When you come to know that your credit card is stolen, report it immediately to the credit card issuing bank. Every bank in UAE will have a helpline or a toll free number which will put in touch with a customer service personnel who will handle your issue. You need to cancel your credit card immediately to avoid further damage.
#2. Scan Your Statement
Go through your credit card statement and check for charges which are unusual or raise red flags. Take a printout and highlight the transactions which are not made by you. Send a scanned copy to the representative and also have a copy for your reference.
#3. Accumulate and Record Information
Keep a record of the date and time your reported the loss of your card, the steps the representative promised to take to secure your accounts, and also further action to be taken on your part. Also have the representative tell you about the protection extended to you in such cases and the extent of your liability. If this was done via mail, retain the email trail.
#4. Follow Up
Follow up to understand the status of your account and ask about the steps taken. Do not tender any personal information about you or your credit card if you receive a call or a mail.
#5. Secure Other Accounts
Ensure that your other credit card accounts are safe and secure. Check statements of each and see if any thing raises suspicion. Change passwords and take advantage of any free privileges are accorded to by card issuing bank to secure your accounts.